IRR readied for broad-based tech projects

IRR readied for broad-based tech projects
By MELODY AGUIBA
August 22, 2009, 3:31pm
A set of implementing rules and regulation (IRR) is being fast-tracked by government for a cooperation with the Silicon Valley-based Science and Technology Advisory Council (STAC) which can bring in multi-million dollar investments in broad-based technology innovation.
The IRR follows a memorandum of agreement (MoA) signed by several agencies of the government with STAC during President Gloria Macapagal-Arroyo’s visit a few weeks ago to the United States.
“We should come up with the IRR soon. It should be finalized at the soonest time possible so we can start implementing it within the year,” Dr. Jaime C. Montoya, Philippine Council on Health Research and Development (PCHRD) executive director and member of the Presidential Coordinating Committee on R&D, told reporters at a local BioCamp.
The MoA with STAC has seven objectives which includes commercializing research; promoting Philippines self-sufficiency and economic growth; validating market opportunity; providing health access and risk capital (financing and marketing); providing investment banking expertise or access to relevant capital market; and promoting the Philippines as investment hub for R&D.
Montoya said the R&D networking-collaboration program is being supported by many STAC-affiliated institutions and professionals and will have all-encompassing applications in different industries.
“That’s across industries microelectronics, life sciences, IT (information technology),” he said.
Among the MoA participants on the part of the government are the Department of Foreign Affairs (DFA), Department of Trade and Industry, and Department of Science and Technology.
From an original concept of collaboration between the Philippines and Silicon Valley-based Filipino technocrats brought up in 1988 by the Department of Foreign Affairs through then Undersecretary Federico Macaranas, the STAC had its first organizational meeting in the San Francisco Bay area in 1990.

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